Mckesson Corp (NYSE:MCK) has reported a recent stock transaction involving one of its top executives. LeAnn B. Smith, the company's Executive Vice President & Chief Human Resources Officer, has sold 704 shares of the company's common stock at a price of $558.09 per share, resulting in a total transaction value of $392,895.
The transaction took place on May 23, 2024, and was part of a pre-arranged trading plan under Rule 10b5-1(c), which allows insiders to set up a predetermined plan to sell stocks at a specific time. This regulatory filing indicates that Smith still retains 2,215 shares of Mckesson Corp following the sale.
In addition to the sale, the filing also reported a withholding of 267 shares, valued at $558.03 each, to cover taxes related to the vesting of Restricted Stock Units (RSUs). This transaction, which is separate from the open market sale, amounted to a total of $148,994. The RSUs in question are part of a grant that vested one-third on May 23, 2024, with the remaining two-thirds scheduled to vest on the same date in 2025 and 2026, respectively.
While Smith executed a disposal of shares through market sale and tax withholding, there was also an acquisition noted in the report. The executive acquired 678 shares at no cost, likely related to the vesting of previously granted RSUs.
Mckesson Corp, a leader in the wholesale distribution of pharmaceuticals and medical supplies, has not made any additional comments on these transactions. The reported trades are part of routine disclosures required by the Securities and Exchange Commission for corporate insiders.
Investors and stakeholders in Mckesson Corp may consider these transactions as part of their overall assessment of the company's stock performance and insider confidence. As of now, the stock continues to be actively traded on the New York Stock Exchange under the ticker symbol MCK.
InvestingPro Insights
As LeAnn B. Smith, a top executive at Mckesson Corp, engages in recent stock transactions, investors looking at the broader picture of the company's financial health and market performance can gain valuable insights from InvestingPro data and tips. Mckesson Corp, with a robust market capitalization of $71.38B and a trailing twelve-month revenue of $308.95B, showcases a significant presence in the healthcare sector. The company's revenue growth over the last twelve months stands at 11.65%, reflecting a strong upward trend.
From an investment standpoint, Mckesson Corp's management has demonstrated confidence in the company's value by aggressively buying back shares, as indicated by one of the InvestingPro Tips. Additionally, the company has a track record of consistently rewarding shareholders, having raised its dividend for 16 consecutive years and maintained dividend payments for 31 consecutive years. These actions signal a commitment to returning value to investors and may contribute to shareholder loyalty.
For those considering the stock's stability and potential for long-term growth, Mckesson Corp generally trades with low price volatility and is trading at a low revenue valuation multiple. This could suggest that the stock is currently undervalued relative to its revenue, presenting a potentially attractive entry point for value investors. Moreover, the company is trading near its 52-week high, with a price percentage of 97.0%, indicating strong recent performance.
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